TCS net up 22.6% in second quarter

Mumbai, Oct. 11 (IANS): Global software major Tata Consultancy Services (TCS) posted INR 7,901 crore consolidated net profit for the second quarter of fiscal 2018-19, registering a 22.6 per cent annual growth from INR 6,446 crore in the same period a year ago. In a regulatory filing on Thursday, the city-based IT bellwether said consolidated revenue for the quarter (Q2) under review grew 21 per cent annually to INR 36,854 crore from INR 30,541 crore in the like period year ago. Sequentially, net profit and revenue grew 7.6 per cent from INR 7,340 crore and INR 34,261 crore respectively a quarter ago Under the International Financial Reporting Standard (IFRS), net income grew 11.9 per cent year-on-year (YoY) to $1,119 million in Q2 from $1,000 year ago and 3.1 per cent sequentially from $1,082 million quarter ago. Gross income in dollar terms also grew 10 per cent YoY to $5,215 million in Q2 from $4,739 million year ago and 3.3 per cent sequentially from $5,051 million quarter ago.